Mars Lithuania sets aside EUR 40 mln for dividends

VILNIUS - Lithuania's confectionery and pet food manufacturer Mars Lietuva, which is part of the international food industry giant Mars, last year saw its net profit fall to 7.692 million euros, down 19.5 percent from 9.552 million euros in 2016.

The company said in its 2017 annual report filed with the Center of Registers that it planned to pay 40 million euros in dividends to its sole shareholder, US-registered Mars Overseas Holdings, this year. The last time it paid dividends was 10 million euros back in 2013. 

Mars Lietuva's annual revenue increased by 3.9 percent to 156.664 million euros. 

The company, which is based in Gargzdai, in western Lithuania, says that last year it invested 16 million euros in expanding its production premises and in a new confectionery production line.

It employed 816 people on average in 2017, up from 790 in 2016.